PPP Loan Forgiveness Simplification
Recipients of Paycheck Protection Program (PPP) loans of $50,000 or less are now able to apply for forgiveness using a simplified application that was released on Thursday, October 8th.
These borrowers are exempted from any reductions in forgiveness based on reductions in full-time-equivalent employees and/or reductions in employee pay, the calculations for which can be cumbersome. Borrowers will still have to make some certifications and provide documentation for covered costs.
To view this application, please click here.